Amplify’d from blog.eventbrite.com
Measuring social commerce
True social commerce promises to leverage the speed and connectivity of social networks to drive sales transactions. It’s an elusive promise that many companies have struggled to realize, but those that do will disrupt industries and create a new scale of business.
Key findings
The key findings of our analysis include:
- Sharing equals transactions: Dollars per share
When someone shares an event with their friends through social media, this action results in real dollars. Our most recent data shows that over the past 12 weeks, one share on Facebook equals $2.52, a share on Twitter equals $0.43, a share on LinkedIn equals $0.90, and a share through our ”email friends” application equals $2.34. On an aggregate level across Facebook, Twitter and LinkedIn, and our email share tool, each share equals $1.78 in ticket sales. We’re seeing this number improve every week with the most recent four-week average equaling $1.87.
- It’s extremely sticky: Visits per share
The hyper-relevancy of the social graph breeds deeper engagement, greater sales and stickier audiences. For Eventbrite, Facebook is now the #1 referring site for traffic to the company’s site, surpassing Google as people discover events that their friends are sharing and they click through to find out more. On average each Facebook share drives 11 visits back to Eventbrite.com. Averaging across all channels, one share drives over 7 visits back to Eventbrite.com.
Sharing is consistent across event size. Sharing occurs at the same rate an event has 10 or 10,000 people. Classes/workshops and networking events have the most share activity, followed by fundraisers, conferences, and music events.
What it Looks Like
Summary: Social commerce is the next big thing
Social commerce takes online commerce to a new level. It marries the natural act of sharing and socializing with friends and the act of buying something online. Social commerce brings together social promotion and transactions into a single, unified experience, which breaks the old rules of eCommerce and demands new metrics. And the exciting news is that this is just the beginning. Look for more reports from Eventbrite in the coming months. We’re also keen to hear your thoughts and feedback on the subject.
Saturday, January 15, 2011
Social Commerce is the next big thing! If you DON'T have a Facebook Page yet #GetWithTheProgram
Friday, December 31, 2010
Social Commerce will boom in 2011, social networking was just the warm up, this will make it Cha-ching for us
It's like that old LL cool J song, You're Jingling Baby. Social Commerce will make our 2010 social media efforts Jingle baby.
Jingle as in Cha-ching or more formally increased ROI! I said it first!
http://www.Facebook.com/AniseSmithMarketing
Amplify’d from www.guardian.co.uk
• What will 2010 be remembered for?
"2010 saw an evolution in the way people consume and share information and content, on mobile and across the web. The web has so far been built on search, so you have to know what you are looking for. But in everyday life, we don't go into conversations with a specific set of questions in mind; our conversations flourish on the information we discover through talking with our friends and that's how we find new areas of interest. The social web is now helping people do the same thing online, creating more personalised experiences based on our real connections.
• What's your hot tip for 2011?
"Social is not just about sharing connections, it's about providing different ways for people to interact and 2011 will see more and more things become social. We've already seen how the gaming industry has been transformed by becoming more social – whatever you think of Farmville, it's been the game of 2010 because of the way it relies on people's connections with their friends.